Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of Jianpu Technology Inc. (NYSE: JT) breached their fiduciary duties to shareholders. Jianpu operates an online platform that recommends credit cards and loans underwritten by Chinese subprime lenders to individual users.
On November 16, 2017, Jianpu held its initial public offering of American Depositary Shares at $8.00 per share. Just five days later, Chinese regulators banned the issuance of new online peer-to-peer licenses because of certain illegal practices by some of the same lenders doing business with Jianpu. On this news, Jianpu’s stock dropped over 30% to close at $4.90 per share on November 24, 2017, and has yet to recover.
View this press release on the firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/jianpu-technology-inc/
Jianpu Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, [email protected], or via the shareholder information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Sign up for our FREE portfolio monitoring service, Stock Watch.
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